Oil Edges Higher as ECB Measures Boost Market Sentiment

TODAY: March 6, 2015 PUB DATE: March 6, 2015

By Eric Yep Crude-oil futures rose in Asian trade Friday in line with positive sentiment in wider financial markets after the European Central Bank raised its growth forecasts and said it would begin its bond buying program from Monday. On ...

Biotech Bidding War Yields Rich Price

TODAY: March 6, 2015 PUB DATE: March 6, 2015

(FROM THE WALL STREET JOURNAL 3/6/15) By Jonathan D. Rockoff The multibillion-dollar sales potential of a cancer drug that Pharmacyclics Inc. chanced upon nine years ago prompted a three-way bidding war that culminated late Wednesday in AbbVie Inc.'s $21 billion ...

China Real Fiscal Deficit Tops Budgeted Level

TODAY: March 6, 2015 PUB DATE: March 6, 2015

BEIJING--China's real fiscal deficit ratio is higher than the budgeted level as unspent funds from past years will be spent this year but not included in the budget calculation for 2015, Finance Minister Lou Jiwei said Friday. Speaking at a ...

Dollar Tad Lower Against Yen Ahead of U.S. Jobs Data

TODAY: March 6, 2015 PUB DATE: March 6, 2015

By Hiroyuki Kachi The dollar was a tad lower against the yen Asia trade Friday, as the greenback hovered around the psychologically-important Y120-mark ahead of the closely-monitored U.S. jobs data for February later in the global day. Around 0450 GMT, ...

Asian Shares Up as ECB Raises Growth Forecast

TODAY: March 6, 2015 PUB DATE: March 6, 2015

Stocks in Japan led gains in Asia on Friday, after the European Central Bank raised its growth forecast for the region. The Nikkei Stock Average was up 1%, while stocks from Singapore to Korea rose fractionally. Shares across the region ...

Sompo Japan Nipponkoa May Buy Stake in France's Scor

TODAY: March 6, 2015 PUB DATE: March 6, 2015

TOKYO--Sompo Japan Nipponkoa Holdings Inc. (8630.TO) said it is considering buying a stake in French reinsurance giant Scor SE (SCR.FR), in a deal that could reportedly be worth over $900 million. The joint holding company that was founded through the ...

Foreign Takeovers See U.S. Losing Tax Revenue

TODAY: March 6, 2015 PUB DATE: March 6, 2015

By Liz Hoffman And John D. McKinnon Just months after the Obama administration cracked down on mergers that helped U.S. companies skirt domestic taxes, a wave of foreign takeovers is steering more tax revenue away from Uncle Sam. In deals ...

Malaysia January Exports Unexpectedly Contracts

TODAY: March 6, 2015 PUB DATE: March 6, 2015

KUALA LUMPUR--Malaysia's January exports unexpected contracted 0.6% from a year earlier mainly due to declines in prices of petroleum products and palm oil. A survey of 11 economists by The Wall Street Journal produced a median forecast for 1.5% year-on-year ...

China Projects 2015 Budget Deficit of 1.62 Trillion Yuan

TODAY: March 6, 2015 PUB DATE: March 5, 2015

BEIJING--China projects a 2015 budget deficit of 1.62 trillion yuan ($258.5 billion), or about 2.3% of gross domestic product, the finance ministry said Thursday. The budget deficit is 270 billion yuan more than the budget deficit of last year, the ...

China Lowers Growth Target to About 7%

TODAY: March 6, 2015 PUB DATE: March 5, 2015

By Mark Magnier BEIJING--China lowered its economic growth forecast to about 7% this year at the opening of the country's biggest political event of the year, ushering in what leaders have dubbed a "new normal" of slower growth in the ...

Brazil Central Bank Raises Benchmark Selic Rate

TODAY: March 6, 2015 PUB DATE: March 5, 2015

SÃO PAULO--Brazil's central bank raised its benchmark interest rate to 12.75% Wednesday, the highest level since 2009, as it struggles to get price increases under control amid sluggish economic growth and deepening political turmoil. The statement announcing the increase, which ...

Australia Report Backs Case for Tough Budget Measures

TODAY: March 6, 2015 PUB DATE: March 5, 2015

CANBERRA, Australia--Australia's conservative government has begun a fight to repair its tarnished popularity and win public backing for unpopular budget reform, warning voters on Thursday that without change the slowing economy was no longer able to support generous social spending. ...

RBA's Lowe Says Global Easings Affecting Local Rates

TODAY: March 6, 2015 PUB DATE: March 5, 2015

SYDNEY--Aggressive monetary easings and currency devaluations by the world's central banks are having a big impact on the setting of interest rates in Australia, while keeping the local currency artificially high, the country's central bank said. "The scale of global ...

China Plans to Lift Price Controls on Drugs

TODAY: March 6, 2015 PUB DATE: March 5, 2015

BEIJING--China plans to lift price controls for the pharmaceutical market, it said in a work report on Thursday. The report released on the eve of China's annual gathering of lawmakers, the National People's Congress, didn't disclose details or a timeline. ...

China Premier: To Cut Energy Intensity by More Than 3.1% in 2015

TODAY: March 6, 2015 PUB DATE: March 5, 2015

By Chuin-Wei Yap and Rose Yu BEIJING--China set a goal of reducing its energy intensity by more than 3.1% for 2015, Premier Li Keqiang said in a report to the annual legislative National People's Congress on Thursday. China exceeded its ...

China Projects 2015 Budget Deficit of $258.5 Billion

TODAY: March 6, 2015 PUB DATE: March 5, 2015

BEIJING--China projects a 2015 budget deficit of 1.62 trillion yuan ($258.5 billion), or about 2.3% of gross domestic product, the finance ministry said Thursday. The budget deficit is 270 billion yuan more than the budget deficit of last year, the ...

Investors Hold Fire Ahead of ECB Meeting

TODAY: March 6, 2015 PUB DATE: March 5, 2015

By Josie Cox European markets adopted a holding pattern in early trade Thursday, ahead of a key European Central Bank meeting at which policy makers are expected to provide details of an asset-purchase program worth up to EUR1 trillion ($1.108 ...

German Manufacturing Orders Down Sharply -- Update

TODAY: March 6, 2015 PUB DATE: March 5, 2015

By Todd Buell FRANKFURT--German manufacturing orders fell sharply at the start of the year, nearly wiping out the previous month's gains, data from the country's economy ministry showed Thursday. Still, the figures don't change the prospects for German factories, as ...

CITIC, KKR Make Formal Offer to Buy Shares of United Envirotech

TODAY: March 6, 2015 PUB DATE: March 5, 2015

By P.R. Venkat SINGAPORE--A unit of state-owned Chinese firm Citic Ltd. and U.S. private-equity firm KKR & Co. Thursday made a formal offer to buy a Singapore wastewater-treatment company in a deal valuing the company at 1.9 billion Singapore dollars ...

Malaysia Central Bank Holds Benchmark Rate Steady at 3.25%

TODAY: March 6, 2015 PUB DATE: March 5, 2015

By Jason Ng KUALA LUMPUR--Malaysia's central bank Thursday kept its overnight policy rate unchanged as domestic demand continues to drive economic growth while inflationary pressure remains subdued. The Southeast Asian country has kept its benchmark rate steady at 3.25% since ...